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Us 12, America 10, U.s. 9, Jon Stewart 5, Jonathan Morris 5, China 5, Doug Schoen 4, Espn 4, Apple 4, Obamacare 4, Jonathan 4, Unitedhealthcare 3, Scottrade 3, Ho 3, Zeke Emanuel 3, Stuart 3, George Bush 2, Abercrombie 2, Microsoft 2, Fbi 2,
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  FOX Business    Varney Company    News/Business.  
   Wall Street news. New.  

    December 9, 2013
    9:20 - 11:01am EST  

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♪ i, i, i'm dreaming of a white christmas♪ ♪ just like the ones i used to know♪ ♪ >> we're starting a new week and there's no letup in the stream of bad news from obamacare. you can't afford it and the country can't afford it. good morning, everyone. first, there's news on deductibles, they're going through the roof and then from the exchanges, most people are signing up for medicaid and that's a financial ticking time bomb. plus, obamacare's architect, z ziek emanuel says you can keep your insurance, and pay more. on wall street, the rally rolls
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on an and tech stocks especially move up and look at this, swallowing a camera to check your system from the inside. the pill cam companies sells for very big dollars. "varney & company" is about to begin.
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>> another week for negative news from obamacare. first off, sticker shock. many people with modest incomes are facing deductibles. and they will not be able to afford the cost that insurance does not cover. the average deductible for the lowest price plan, $5,081. up 42% for plans purchased in 2013. next, california, a doctor boycotts, 7 of 10 say they won't participate in the obamacare exchanges. a ticking time bomb. 1.6 million people enrolled in obamacare so far. the bad news 1.46 million are signed up for medicaid, that's free care using taxpayer
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dollars. if the trend continues you'll see extreme financial difficulties for both state and federal governments. then from zeke emanuel, says yes, you can keep your doctor if you're willing to pay more. here he is on fox news sunday. >> nobody launched a big pr campaign so sign up. we're about to launch a big pr campaign and that, i think, is going to persuade a lot of people. >> did he say if you like your doctor you can keep your doctor. >> yes, look, if you want to pay more for an insurance company that covers your doctor, you can do that. this is a matter of choice. stuart: yeah, you've got to pay up. the latest victim of obamacare, rebecca pierce resigned after efforts to fix the website in maryland failed. it's home to a large number of federal workers and a governor who is an outspoken supporter of president obama. that's maryland. do you watch football sunday?
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you missed a big day. eagles-lions, white-out question. the big question. with the super bowl in new jersey, open air stadium. what happens if there's a blizzard for the super bowl? to colorado, trainer a 64 yard field goal, the longest ever. look at that. talk about fireworks, a crazy finish in baltimore. five touchdowns in the final two minutes and ravens scored the game winner with ten seconds left. to the markets, set to open higher in a couple of minutes and it's been a theme here on "varney & company," an american technology companies lead the wall street charge and you'll see more of it moments from now. [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame.
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>> 50 seconds to the opening bell and stocks will go up a little bit more. in chicago here is tres knippa. we hear there's a budget deal probably announced this week. is that part of the good news back drop for the market? >> i think the main thing is that certainly the tailwind to this market is that we've had gridlock in d.c. since the mid term elections of 2010. that is a positive underpinning to both economic growth admitted it's modest, and to the market as a whole. do i think this budget deal is
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a market mover? not necessarily, but let's face it the market seems to go up on every bit of news right now. stuart: it doesn't hurt and the market wants to go up and i think you're on record saying 18 k for the dow fairly soon. is that right? it is? >> it's coming. i don't know how-- we have to define fairly soon. >> okay. and i will not pin you down, because that was not your forecast. tray knippa, thank you. the opening bell has running. and we're before 16,000. everybody knows i'm a ludwick-- luddite sort of. friday night i ordered a book on amazon and sunday morning it was delivered by the postal service. i thought i'd like you to know that amazon is using the postal service and it works. and another big name you know,
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it's china mobile. they're going to take orders for apple's iphones starting thursday. apple is up in part on that news. china mobile is 700 million possible consumers there. we always say that tech rules. and that the pill maker, given imaging was just bought by covidien. almost 900 million dollars. nicole, let's explain this. this is, they put a camera inside a pill, you swallow it, it scours your insides, gives pictures to the outside world and someone just bought them for 900 million, it's a big gain. >> it's a crazy idea and it works because it brings in about two-thirds of the revenue of the sales they see 180 million in sales, 2/3 from this pill alone. the stock moving to new highs, it's a bill about the size of a large vitamin, the camera is embedded inside. it's great to detect gastroenterology problems,
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bleeding, colon abnormalities. to see the inside of the patient's body? is there light there? i'm not sure how it works, does it have a light? and covidien at $30 a share. stuart: hardly scooping it up. they paid $900 million to scoop it up. thanks, nicole, we're off and running and slightly higher. let's stay on the tech theme. keith fitz-gerald is with us, keith, it seems like and i think you're on board with this one, technology is the place to put your money still, correct? >> absolutely. because if you think about what the world wants versus what the world needs, we have no option, but to continue with technology. so, all things tech are going to be good markets for the next five to ten years, actually. >> you've got an interesting theory on apple and microsoft, tell us. >> well, here is the thing, this is one of those unthinkable, but absolutely possible deals. i think that apple and microsoft may not only have to work together for the next few
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years, but may even see a merger five to ten years from now, because they're going to have to take on the google android/facebooks of the world. >> i'm trying to digest that one. >> exactly. >> i'm not so sure that the government would allow that kind of get together, that kind of tie-in, but it certainly is interesting. but that's pure speculation on your part at this stage, right? >> absolutely speculation, but if you look at what's happening, and you look at what apple wants to accomplish with the mobile market, you look at the one microsoft initiative and you look at the cross pollenization of devices, security is king and a user base between the millenials and senior citizens that are easy usable stuff transparent between the devices. on the tv we saw 50 social apps pre-loaded to the tv. i didn't care about anything. what i thought was cool was i could go from device to device
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to device, my hand held and tv is plugged into the same stuff now. >> interesting, any other tech names you like? >> you know, i'm interested in abg right now, 100 million plus downloads for the anti-viral software, the model, the customers initially get to use it free and chalk up money for it and successful conversions and that to me is bigger than norton and some of the other things, interest of disclosure, i have none on those. stuart: abg, you like it, you don't own it, you like it, you think it's going up? >> yes, i do, i do. stuart: well, you're going to have to-- >> i won't argue with that. stuart: you're going to have to compete with charles payne for picking stocks and that's a difficult competition if ever i saw one. >> yes, it is. stuart: wal-mart, let's move onto that. it had its biggest on-line sales day ever. a lot of items on the website sold out. he's about to expose a problem
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with wal-mart. brian sozzi is a frequent guest. you say that wal-mart is being deceptive. what's the story? >> vigilante man of people, this is a wakeup call when the company reports in february, everybody holding stock realizes what happens now. massive inventory built in the stores right now. stuart: hold it, massive inventory buildup in the store and they've got a lot of stuff in inventory they pay for it and can't sell it. >> there's a dark underworld of inventory. it feels like the world is closing in, walk into the back of the store all of this stuff is on pallets, unopen. and u.s. wal-mart sales help underperform their inventory for over six quarters. this is a company at headquarters buying goods thinking it's moving out the door, but the economy is-- consumers are telling something different. stuart: you're famous for going into the stores with your video
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camera and pointing out messy stores, stains on the floor, in this case lots of product lying around unsold, but you know, wal-mart's always like that. a lot of discount stores, big box retailers, they are kind of messy, target's not, i got that, but a lot of the rest are, and are you reading too much into this. >> they came out on black friday and set unrealistic expectations, 29 cent towels and a remarkable quarter. i say no way jose, and they're going to have to mark it down. they have he an issued two warnings and-- >> they won't issue the warnings report until next february. >> correct. stuart: if they do that, the stock will go down? >> i think it will continue to underperform, and where it will get hit are those that supply the company.
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stuart: and working people and middle class people are getting a squeeze in this particular economy, do you think that's hitting wal-mart and their inventory? >> absolutely. this is a direct function of the economy and arrogant headquarters executives are still buying goods for another world. stuart: so you're blaming the economy, but blaming wal-mart for not coming, as you said, clean about sales. >> they're not coming clean and 29 cent towels is not enough reason for me to buy the stock and inventory problems, liquidation, margin pressure coming to wal-mart. stuart: brian, we hear you and we shall watch carefully. >> thank you. and another big name you know, mcdonald's, sharp drop in u.s. sales. nicole, what's the results? >> we're watching mcdonald's right now, close to 1% to the down side and hitting exactly 96 bucks. the problem was not europe, actually. the problem was right here in the united states of america, as well as japan. that's where they saw weakness and they talked about competition and they talked about a weaker global economy
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and softness because it's not hitting the restaurants. >> that's interesting and i want to move into abercrombie and they've issued a statement saying that their ceo, i believe his name is mr. jeffries, he's going to stay and he's the guy that said i don't want overweight people shopping in my store and i don't particularly want to see them, but he's staying. now, what happens to the stock after that announcement? >> he's staying and this was last week we were talking about one shareholder in particular, who was outraged and thought of the time frame to leave and i think he's a block from moving the company forward. in the meantime, the stock now is reacting negativetively and it's down 2 1/4% and mike jeffries stays on and he has a more incentive based contract and makes 1 1/2 million a year and it's a new long-term deal for him. >> yes, it is. nicole, thank you very much. next item, yahoo!. they just bought a streaming video start-up company that airs live concerts, called events live.
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keith fitz-gerald still with us, and what do you think about yahoo!? it seems to me that-- mar marisa mayer totally transformed the company, it's not the same yahoo!. >> aside from the logo that kind of flopped, but yeah, i agree with you. she's making important moves and it puts it up potentially against netflix and h.b.o. space. a lot of things to do with it, but whether she does it remains to be seen. the remaining piece is the alibaba piece over in china. stuart: the nasdaq is up and dow is up. not a bad start to a monday morning. it's a harsh reality, one of the greatest wealth distributions of all time is happening right here at home. the young paying for the old. it really is a generational clash. we'll deal with it after the break. ♪ pleased to meet you hope you
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3 million homes. by 2030, investments in energy efficiency could help americans save $300 billion each year. take the energy quiz. energy lives here. see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get information on quality rated doctors, treatment options and estimates for how much i'll pay. that helps me, and my guys, make better decisions. i don't like guesses with my business, and definitely not with our health. novations that work for you. that's health in numbers. unitedhealthcare.
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>> we expected a very modest gain this monday morning and we've got it. 8 points up. 16,028. where is the price of gold this monday morning? i will tell you right now. we're up 6 bucks at 1235. and obamacare, medicare, social security, they're all transferring wealth from the young generation, younger generation to older people. the youngsters even know this is happening? joining us now is kennedy. she's the host of the independent, that's a brand new show it premiers tonight on the fox business network. first of all, congratulations. >> thank you, stuart, great to be with you, it's a celebratory
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day. stuart: you're going to be live at 9:00 tonight. got up who knows what time. >> i got up at 5:00 and taking the bull by the horns. stuart: tell me about the transfer of young to old. >> it gets from program to program. whether it's social security and now, it's obamacare, but the notion that these pensions are just going to pay for themselves, this dilutional thinking, that's what we -- delusional thinking what the free marketers are rallying against for decades and finally it's pushed to the brink and past it in places like detroit. retirees for every worker when social security was first implemented it was the opposite. you had more workers than retirees so the system worked. but you know, they've been going and going with these pensions and lawmakers have been voted in because of union votes and these blocks of voters who only helped craft this legislation that make
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these supposedly impervious, but you get to the point where your bank goes down. stuart: when you're in your 20's, 30's, career is starting out. want to buy a house and car and children coming along. this is when your money has to be spread thinly, but precisely that time you have to support people like me. you've got to support me in medicare, you've got to support me in social security. and now, with obamacare, you're going to have to pay more, even though you're young and healthy, you've got to pay mor morel-- more, relatively speaking, out of obamacare. >> actually obamacare is the one instance where everyone needs health care at the same time. with social security, i mean, you're talking about a program that is theoretical for people for decades so if you've got someone in their 20's, 30's and 40's they're not thinking of retirement, assume at some point it will be there. the idea of losing your health
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care, if you you've got a chronic condition as a young person, you need that. if you're over age 26 you need your health care now and the notion that there has to be young, healthy people paying higher premiums to support, you know, older americans who now are being promised free insurance essentially. stuart: youngsters do know the know this. >> no, the harvard poll showed just this weekend that people 18 to 29 overwhelmingly, a, think it's going to be repealed, and b, they think that the health care is going to get much worse, which it is if you're going to medical school now days or thinking about it, would you make that leap, that commitment if you're, you know, 19, 20 years old? no, because health care is a disaster. it's not the kind of lucrative field it was when i was a kid and you were a kid. stuart: the key question will those younger people, will they vote differently in the future when they realize that moneybeit at a critical time in their lives? >> yeah, i mean, this is all happening very quickly. so you're talking about a
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generation that's right now is politically fickle. and you have two elections where they voted and reaffirmed their love for obama. but just within the last year, african-americans, young people, latinos, they have been leaving this coalition because it's not working. will it make them republican voters? i don't think so. will it turn them into independents? i hope so. stuart: that's the name of the show, isn't it, the independence. >> yeah. stuart: you're doing it now, live, fox business network and your co-anchor is matt welsh. >> a camille foster. stuart: there you will be live and in living color at 9:00 tonight. >> yes. stuart: lucky you. congratulations, kennedy. i wish you well. >> thank you, i really appreciate it and love coming on your show. stuart: it's daily. >> it's monday through wednesday and friday. every night that stossel is not on. stossel leaves people hungry for me and we're trying to fill the void. stuart: thank you.
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kennedy. you cannot command income equality, it doesn't work, but the president is trying to do exactly that, isn't he? my take on that is next. ♪ (vo) you are a business pro.
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>> new high for cisco, that's the food service company, not the tech company. spelled with an s. and it's up 18% and the market likes that. sysco. and that's microtech, anchorman 2 a week and a half away bombarded with a marketing blitz it seems like months that's been going on and how this ad campaign for anchorman 2 can change the way that all brands promote themselves. and jon stewart takes me to task over the minimum wage. do companies have a moral obligation to pay more than the wage. father jonathan morris is here to weigh in on that. $15 an hour, tax the rich, you must have health insurance or else.
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here is my take on the command economy. that's what it is. the left quarterbacked by president obama is trying to command the return of prosperity, command fairness, with an of a magic wand and command the economy to obey the white house. look at the $15 an hour movement. they want to legislate wages. it's not what you bring to the wage table, it's what politicians decree you should be paying, that's a command. look at the tax the rich idea. and that's an attempt to command income equality. wave that wand, make them pay, even more, and they tell you we will be all more equal. really? and how has that been going for the las five years. and then obamacare, perhaps the new motherload of the command economy, you shall have health insurance. you will give us your personal information, and stop whining if we lose it. you had enough of this yet? you see, it doesn't work. command economies do not
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produce widespread prosperity. they do not produce fairness, it is the politically connected to win by command. but most importantly, it's unamerican. i know that sounds very strange coming from someone with a voice like this, but i think that america is based on the free choice of individuals. i don't think americans take kindly to being told what to do. commanding wage rates. commanding the i impoverishment the middle class. get off my back. don't tread on me. ♪
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>> monday morning, and we are still reeling from the latest obamacare headlines. deductibles skyrocket. medicaid will break the bank. well, doug schoen is here on that and he's a centrist democrats and how they'll respond to the obamacare shocks for millions of voters. the judge is here, too. local police departments now tracking your phone records. yes, it's down to the local level right now. the marketing blitz for the return of ron burgundy in anchorman 2. we're covering it. father jonathan morris, do you have a moral obligation to pay above market wages? we'll ask. and the ceo of roku, he wants to run your living room. check the big board, yes, it's
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a modest rally, 16,048. we say it all the time on this program, technology rules. a couple of big names that we follow very closely this morning, look at them, amazon is down this morning, but it's at 3.85. and apple is up another $3 at 563. they're tech bellwethers. and charles payne makes an appearance, and where would you put your money apart from massive technology? >> i tell you, it's like all sectors are attractive, but it's finding the cream of the crop. auto sector fantastic. and home builders, i even like energy stocks. and people don't realize that electricity bills are at all time highs there, and the one that isn't getting any coverage yet. i like the coal stocks. >> it doesn't matter which industry you pick or what group you pick, look for the cream of the crop.
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the best performing companies and you think they'll do well no matter what industry they're in. >> particularly for the people who feel anxiety coming in late? >> have you had the best year ever? >> and we might have done better in the crazy heyday when stocks were going for 100 to 20 for no reason, but the best performance as well. we've had losers and also victimized by success and people want the ideas to go straight up and when they don't, they send me an e-mail, what's going on. stuart: your inbox is flooded. what have you done for me lately? >> in the last 24 hours. stuart: and we have a big winner, i think, twitter, nicole? >> that's right, it's up about 6%. keeping a close eye on twitter. look at that, 47.44. so on the day of the ipo we saw it cross the $50 mark, we haven't seen that since, but certainly getting a huge pop today. stuart: is there anything in the news that we should know about? i've not seen it, i've done a
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search and haven't found any specific news. nicole: i'll look and we'll report and regroup. twitter has been a little fickle, but today it's jumping. stuart: got it, thanks so much, nicole. any comment on twitter? >> the other day when all of the different firms involved in the ipo were worried about putting an opinion on it, you had a couple of buys and a couple of neutrals, but it seems like it found a trading range and every time it goes under 40 the buyers step up to the plate. stuart: now in the battle of your living room who is going to win it? the xbox is in that, the playstation and apple maybe, there are a few contenders for the living room battle and this morning, we have the ceo of roku. and the ceo is in the game of winning your living room. let me define this. when i say winning the battle for your living room, that means the device which we're all going to use as we sit around looking for entertainment on the screen, is
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that correct? that's the battle for the living room, right? >> well, yes. you know, i think if you think about how americans are watching tv now, 50% of americans stream every day, so, the streaming tv over the internet is the way americans are going to watch tv in the future and once you connect the internet to the tv you have this opportunity to create a new platform and who is going to control at that platform i think is a big question. we're certainly one of the leaders. >> that's what you do. roku connects the internet to the tv screen in your living room. is that right? >> that's right, roku is a small box from $49 to $99 and you connect it to tv and wi-fi and you can stream thousands of cana channels of content, from netflix, espn, and even fox news. stuart: what do you mean even fox news. i caught that. even fox news? let's move on. >> i'm sorry, i meant especially fox news, that's
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what i meant. stuart: fine if you want to come back on this show. how do you make your money? you sell the box, i got that. 29 to $100. how else do you make your money, anything else? >> you think about once you have a platform for stream, it's really a distribution platform. promotion is one of the things we do a lot of. and our content partners, they obviously want their contents to be watched the most and we have distribution and promotion and we have economic deals all of our partners. the service part of our business, you know, when someone buys the movie on roku. when someone watches an ad, there's a constant promotion of service partners the fastest growing and most prosperous business so far. stuart: i want to-- how are you different from sony's ps 4 and microsoft's xbox one. aside from price, i understand
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that, but what's the difference in approach. >> they're gaming consoles to their core. if you look at who is buying a gaming console, triple-a titles. so those consoles appeal to that demographic and of course, those customers watch tv as well so the devices are great for streaming as well. but, really, they're complicated and they have a gaming remote control and easy to use for a gamer, but for someone, your baby sitter, your parents, your wife. you, probably, using a simple remote control that's super simple to use and easy is really our difference, and very easy to use and of course, conte content. we have the most consent and making sure we have the best content like fox news on ours. stuart: you learn fast, you really do. and can you give me any idea of how many roku boxes are in use in the united states or maybe worldwide? >> our primary market is the united states and we-- the last number we released was
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5 million boxes the beginning of this year and we sold millions since then. and we will be announcing new numbers at the beg next year. christmas is just upon us and it's our biggest season of over 40% of all of our sales happens during christmas. stuart: one last point, can i watch live sports through my roku box? >> absolutely. and you have a few different options, all the major sports networks like mlb and hockey, they all have channels on roku for out of market games. for in-market games you can use espn, to use espn you have to have a pay tv account that sports espn. there's a concept to support. stuart: did you say half the households in america every single day stream something? >> that's right, half of americans are streaming every day. stuart: execs --
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extraordinary. >> the average roku customer streams 35 hours a day. stuart: thank you so much, we appreciate it. >> thank you. stuart: yes, sir. even fox news. [laughter] he corrected himself pretty well. another one of our big themes today. the transfer of wealth in america from younger people to older people. obamacare, medicare, social security. all of these vehicles are in fact part of the wealth transfer system. charles, this is really happening. this is not a joke. this is not a mere theory, it's happening. my question is, do young people know that it's happening? >> they have no idea. again, think about the idea that the obama administration made almost 42 billion dollars in profits off of student loans after hinting that they would somehow come to the rescue, maybe forgive student loans, maybe them lower, make them cheaper, but they make 42 billion dollars off that. and also consider that the people that we're talking
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about, this young age bracket are also the poorest americans. i guess it goes back to years ago when we were so afraid of granny eating dog food, but we always think of older americans being dirt poor when in fact they're the wealthiest of americans and younger people trying to make it into the system are the poorest. why are we trying to put obamacare on their shoulders in are we nuts? >> that's exactly what we're doing because if you can't get young healthy people into these insurance pools, you've got to raise the price of those pools to a prohibitive level and obamacare falls flat. charles: absolutely. stuart: i don't think they realize yet. charles: the public relations aspect of it they take that in. as they get jobs and start to raise their families, they start to have epiphanies and wow, okay. and change over the years. when you're young and ideological and don't think about the real deal. stuart: if you aren't a socialist by the time you're
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25, you've got no heart and if you aren't after 25 you've got no head. winston churchill. a private equity firm has not sold the company that manufactured the bushmaster, it can't get what the company is worth. look how much they've made. revenue up 46% year over year during a time when gun control was front and center. anything to add to that, charles? >> yeah, cerberus has never impressed me. it's a private company, but their deals seem to be very unimpressive. you know, so i would say a would-be buyer is worried about this market peaking, you're up 46%, but comparisons going the next five, ten years. stuart: dangerous, isn't it? >> politically dangerous and by the same token, with the fbi checks and we're starting to plateau. the fbi checks for gun ownership has skyrocketed in the last few years and they're
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still amazing, but starting to plateau a little bit. and a would-be buyer is going to look at that and say, has this market peaked. stuart: the dow jones, a modest gain and technology is leading the way. more prove that tech is where it's at. google hitting a high. look at this, please. 1,076. it was 1,080 just a few minutes ago and now it's backed off to 1,-- 1075 on google, it's up six books-- six bucks. that w my middle, middle england accent coming through again. and several negative obamacare headlines for you, a medicaid time bomb. doctors boycotting in california, sticker shock on deductibles for the average family and the obamacare disaster rolls on and doug schoen will be here next. ♪ if you don't know me by now
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>> and just to be clear about fox news and roku, you cannot stream the fox news channel to your roku box, it's a collection of video clips and the occasional stream of live events and streaming shows. and fox business has the similar place on the box. and the parent of is an investor. and charles. charles: the main invisalign product that straightens your teeth, you don't need to worry about it because of the british system you have the great teeth already. [laughter] and last time they reported revenue up and margins are expanding and a 3-d play that's catching on great with the dentist and orthodone
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particulaorthodone-- orthodonetics. they have another line up align technology, a-l-i-g-n, your teeth. no laughing matter. obamacare sticker shock. so many people are facing deductibles, they pay for and costs that the insurance coverage doesn't cover and the average deductible for the bronze plan, the average deductible is $5081 is for individuals. that's up 42% compared to individual plans before the law went into effect. and former clinton advisor doug schoen is with us. i call this sticker shock number two. and i think it has to end the split within democrats about what to do about obamacare? >> it does and it will. people have yet to find out that not only does the website
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not work, but the plan is itself much more expensive than what they've been paying before. when they do, stuart, your contention is exactly right. people will howl, it will hurt the democratic constituency and the party could well lose the senate in 2016 as a result. stuart: that bad? >> yes, i'm sorry, 2014. stuart: 2014. >> i misspoke. stuart: hold on a second, i've got this from zeke emanuel, he's been on this program and he's one of the architects of obamacare. you can keep your doctor if you're willing to pay more. here he is from fox news sunday. >> no one has launched a pr campaign because of the website. and we're about to launch a pr campaign and people sign up. >> did he say if you like your doctor you can keep your doctor. >> yes, look, if you want to pay more for an insurance company that covers your doctor, you can do that. this is a matter of choice. stuart: what? >> stuart, that last comment
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was bone chilling. because the plan was sold that you could keep your insurance and keep your doctor and he's basically saying, you can do it you'll have to pay more, which is, you know, it's-- >> that appearance was a disaster. >> of course it was a disaster. look, and bottom line, there hasn't been pr for the aca? come on, look, stuart, bottom line, the president is betting he can sell this plan and turn around the country that's 60% against it. so far the evidence suggests not only can he not sell it, but it's back firing against the democrats. stuart: one second, charles, i want to run another sound bite from zeke emanuel about the glitches as they're called on the website. let's roll that one. >> we're trying to make this thing work. is there going to be no glitches? i don't think anyone has that unrealistic expectations. when i got my iphone there were lots of glitches and they had updates. large scale with millions of people. stuart: excuse me, send updates
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to fix the website like you do on your iphone? that's a terrible thing to have out there. >> well, a, this isn't an iphone. b, it's not a consumer product. it is a basic core element of the democratic philosophy and the democratic program, but there's also something else. you can buy an iphone for 5, 6, $700. we bought this website for what is it about $650 million dollars and counting, stuart, it still doesn't work? and it's not clear we'll have anything other than higher deductible and more expensive doctor visits? i think this remains a millstone around the democrats and the president's neck. charles: and president obama said if it takes the rest of his term to get this straight. he seems to have come to some sort of realization, realistically it's going to take the next three years at minimum to sell this to the
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american public. >> there's something else, he's saying there will be no compromise. there will be no effort to fix with the republicans or even fix with the democrats. bottom line, this is a stark statement by the president that he is doubling down on a plan that so far has suggested that the evidence suggests it's not working. stuart: and are the democrats prepared to go over the cliff for obamacare because the president insists that they go over that cliff? >> well, you've heard debby wasserman schultz, the nc chairman says she believes that democrats can run on it. i suspect you'll see the three democratic marginals in the south, in the senate, run as far away as possible and i suspect most democrats in marginal races will do the same. stuart: okay. doug schoen, thank you very much. you're a democrat aren't you? >> i'm a democrat, but i'm not this kind of a democrat. stuart: you're barely a democrat, the party left you behind. >> they did sadly. stuart: welcome back. >> nice to see you in the center, stuart.
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stuart: thank you. question, do companies have a moral obligation to pay above market wages, a moral obligation? after the break, father jonathan morris responds to this. >> you're going to give us the emotional side of the story, people need $15 to live on, they're starving, okay, i've got that. i want to ask you about the economics of it. ♪
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>> shares of american airlines, that group, the american airlines group, they're trading and they're higher. that's now going to become the world's largest airline because they're buying u.s. air, and there you have it. they were up again. but abercrombie & fitch they are down a buck right now because abercrombie's chief executive will stay on. investors don't particularly care for that. it's down a buck at 33. did the daily show ever rake me over the coals last week? roll it. >> you're going to give us the emotional side of the story, people need $15 per hour to live on. they're starving without it. okay, i've got that. i want to ask you about the economics of it. [laughter] that's the type of statement that's usually followed by a
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visit by a dead business partner and the ghost of christmas past, present and future. all right, all right. we've heard the argument that you need it to feed your family, fine. i've got that. [laughte [laughter]. let's hear the argument treating it as though you're not human. stuart: it was funny. i've got to say it's funny. so let's bring in father jonathan morris. all right, father. >> you're not going to win an argument with jon stewart, as a comedian, he doesn't have to deal in truth. and as a statement. stuart: now, is there a moral obligation to pay more for a job, more in wages than the market dictates should be paid? is there a moral obligation to pay above market wage rates. >> which market? what about the market in bangladesh and paying the workers about a dollar a day. stuart: no, the markets in the u.s.
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>> that's an important point. society has a responsibility to create opportunity so that every citizen willing to work and work hard can make a good living. that's what society has a response-- and the government has a responsibility to step into the market and regulate the market when people are being cheated, that's the principle. stuart: so you approve in principle of the government legislating wages? >> what's the minimum wage all about. of course the government-- . >> so you approve. >> the minimum wage. but should the government say, anybody at mcdonald's should be making a living the rest of their life? i worked for $6 an hour in college and that's a stepping stone. stuart: but you are accepting the principle that the government will dictate wage rates because remember, in the banking and insurance industries, the government dictates maximum wages, okay?
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you're in favor of this? you think it's a political question? >> you know, it's like what we saw when pope francis put out the document which he said, basically he criticized unbridled, the unbridled market, free market, that there needs to be some sort of regulation. why? because human beings who, if they have the power, will take advantage and make a lot of money in an unfair way and that's why although i'm a total supporter of the free market, of course, there needs to be regulation and when we see the rich getting richer and the poor getting poorer like we see right now in the u.s., there's a problem. stuart: wait a second, when i was in my 30's, in the mid 1970's, i went to live and work in hong kong. hong kong in those days was a british colony for heaven sake, no politics, no legislattre involved whatsoever, just free market capitalism. i've never seen such a dynamic society where all boats were lifted, big time. that was unfettered, free market capitalism. the government wouldn't dream
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of saying, you've got to pay so-and-so this amount of money. >> unfettered, no regulation whatsoever in anything? >> there was regulation of some minor elements, but certainly not deck dictating wage rates. >> i would be wholly afraid if the federal government were to come in and say the wage is now $15. stuart: charles, hold on a second i've got to get to another clip involving-- >> now you're going to get both ways here. and-- >> jon stewart did not stop at the minimum wage he moved on from there. roll the next clip. >> who says you can't serve both god and money? who would say such a thing? >> well, father jonathan? who says you can't serve god and money, what does that mean? >> well, what it means is that if you have money, right, or profit as the number one, the number one driving force in your life, then your priorities
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are messed up and/or i think in relationship to this conversation, if you have as a company the one regulating principle is to make the most money possible and not care about being fair, then also, you've got some serious problems. stuart: hold on a second, charles. you and i are very similar because i think both of us go for the money, we pursue profit do we not. charles: right. stuart: we're both christians and don't exclude our spiritual lives from the driving force in our lives. how do you answer that? charles and i pursue money vigorously, are we wrong? >> absolutely not, but there are ways to do it and there are ways not to do it. stuart: yeah, you work hard and you look at the bottom line and you do what is profitable. >> and you do it in a moral and ethical way. charles: i wanted to ask, you know. >> if you disagree with that you're going to be all over jon stewart this week. stuart: will be anyway. charles: where is the moral obligation for the person on minimum wage? in other words, the person that
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puts themselves in the position they were a poor student, they dropped out, they smoked weed every day and woman has three kids from three different father, where is their moral obligation, how can they can abuse every aspect of morality and somehow society must make it up to them. >> i believe they absolutely have a moral responsibility and that's why, i don't think it's a good idea for the federal government to say $15 to do a simple job. stuart: why do i have a moral obligation to pay those people that money? why do, where is the moral obligation to pay people who will not help themselves as charles points out? >> i think that jesus also said he who did not work shall not eat so i think you're exactly right. it's not all black and white. there's got to be some, a certain recognizance-- reclation that makes sure, in the united states, it's not extremes, but we have to make sure that people are getting something fair for the work that they do. stuart: father jonathan first appeared on this program he was-- had a parish in downtown
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manhattan, don't you? now you are at columbia university. >> that's right. stuart: not quite an academic, but in columbia. >> the ministry. i think it's rubbed off on you. >> oh. stuart: it's rubbed off big time. >> you need to come up and visit sometime. stuart: me? what kind of reception would i get in columbia university? if charles and i walked in there? >> a lot of good people there. stuart: i shudder. father jonathan, you're okay and still okay. stuart: the anchorman society marketing a huge push, how this ad campaign may change the way all brands promote themselves. that's next. >> welcome to gnn. >> there's curtis nightfish from houston. >> they don't get any better than that. >> and diane from carson city. >> she's my aunt. >> and the best in the biz, jack line. >> oh, my god, he's absolutely magnificent.
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adam: "anchorman 2" is out next wednesday but a lot of people are talking about the movie because of the brilliant marketing campaign that has produced from commercials to ice cream, even scotch, this movie is likely to be a hit, and we have with us in the spotlight
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in the fox light, michael samara. i've never seen a marketing campaign for movie like this. >> in their operating terms of social media on an unprecedented level, feeding original content across facebook, twitter, on tumbler in a way that has never been done before. stuart: do you think it will be a success? >> yes. the first time you're talking what made $85 million. pretty good mystically oversee the made 5 million. it doesn't have a huge hurdle. stuart: but, to spend all of this money, it costs a lot of money. you have raised the bar to be a success and have a successful marketing campaign to have her bring what, 200 million? at least. >> at least. especially overseas.
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will ferrell, everybody likes him. revolutionizing the way that you market a movie. which makes me nervous. you have to hedge it a little bit. stuart: do you think this technique of marketing across all platforms, doesn't migrate to other products like spark plugs or something? >> it could. a little less expensive than the traditional market for sure, that is one of the reasons they are doing it. will ferrell has a vested interest in it. his salary is coming on the back end of this movie area did stuart: w where giving it away r free. charles: they waited so long to do this. not only to reintroduce it, but to get it to a younger audience. my son saw the movie. he told me he loves it, so maybe
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it is getting down to get the younger audience to watch it as well. >> after 10 years bringing a new audience in, it is a very crowded next couple of weeks for movies. they have roque and through the clutter, which is the goal of all the marketers. stuart: you are a marketer, that is what you do. you think this cross platform marketing using social media is the way of the future. >> we will see on december 17 when this movie opens up. if it is brilliant or too smart by half. stuart: i will go and see it. will you, charles which mark charles: yes. one of the few movies everybody in the house wants to see. my son, my wife, i want to see it, that is rare. stuart: no violence, critique, something for everyone.
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thanks very much, indeed, sir. >> thank you for having me. stuart: another story on invasion of property. -- privacy. it is your local police department. judge napolitano is with us next. ♪ ♪ ♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. get the most extensive charting wherever you are with the mobile trader app from td ameritrade.
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stuart: as of now china mobile is advertising and will start accepting preorders for apple iphones thursday this week, only three days away. apple stock reflects that up $5, 700 million potential consumers in china. camera maker given images bought almost $900 million. the camera that looks like a little pill, you swallow it, it looks at your insides. here is a name you know, mcdonald's. the stock is down $1.30. yahoo bought a streaming startup company airing live content. yahoo is up again, 39. new highs for cisco. buying u.s. foods for three and a half billion and the stock goes up 14%. stay right there, the judges on his favorite theme. privacy. twins. i didn't see them cing.
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why's that? uh, mark? go get help! i have my reasons. look, you don't have to feel trapped with our raise your rate cd. if our rate on this cd goes up, yours can too. oh that sounds nice. don't feel trapped with the ally raise your rate cd. ally bank. your money needs an ally. stuart: fisher-price is releasing a seat for babies allowing them to play around with an ipad. it will feature an ipad holder as well as free apps that will develop tracking skills. here is new mom sandra smith in chicago to get her take on it. would you use this seat? sandra: no, absolutely not.
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i have spent a large part of my time trying to keep it out of her sight because all she wants to do is grab after it. i find this borderline this disturbing. they are so tempted to do anything to distract their child for just a little bit of spare time for themselves to do something, the worry is this could become a crutch and the most important thing for an infant at this age 20 american pediatric association is that they see faces, hear voices, touch objects. there are some huge concern about babies developing their motor skills if they're working with something so two-dimensional like an ipad. it is borderline scary or even putting some electives on the market. stuart: any time i a baby in a car seat i have one objective, that is to get them to sleep. i am sure you have done that, everybody has, right?
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sandra: of course. you talk to them. direct with them, that is the biggest fear here is they lose the humor human interaction which is so important for babies under the age of two to develop those skills. stuart: a new congressional inquiry showing law-enforcement officials made more than 9000 requests last year for cell phone information. and the use cell phone towers that were not in fact cell phone towers. they were using suitcase sized devices that trick all nearby phones into connecting to that suitcase and feeding the data to the police. it is legal. all rise, the judge is here. >> surely it is not legal, it is government surveillance a warrant.
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more importantly without even suspicion of the people upon whom they are engaging under surveillance. the government argues once i pick up the phone and talk to you, say we're having a conversation between our cell phones that we have no expectation of privacy, because i know my words are going to go through one tower to another tower to a server 23rd tower and to you i expect the people in those towers can listen. i don't. i spent it only goes to the towers in order to reach you. the conversation is only intended for you. not intended for the government. stuart: legality is what is an expectation of privacy. >> the constitution requires, remember, this is not the phone company listening to you. you can change phone companies, this is the government, which you cannot escape.
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for the government to listen to you to investigate you or for a benign purpose it needs some sort of suspicion that you are doing something wrong. the government is not constitutionally equipped to gather information about people in the expectation there is something wrong. it has no of something wrong first. stuart: it is not listening in on the conversation. >> it is ca caption the conversation, retain a conversation, worse than listening to it in real-time. stuart: it would direct the calls to the police force and they can actually listen into the call. >> if you or i purchase such a suitcase in new jersey, we would violate state and federal law violation of privacy. i argue the police without a warrant to the same thing. stuart: i understand where you are coming from.
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in large part i'm sympathetic to your view by can't understand why does the obama administration which poured george bush over the coals for this kind of thing are actively doing this. >> we're not talking about the nsa. guess where the money is coming from for local governments to buy these suitcases. the cost $400,000 each because of the level of sophisticated equipment from there. it comes from federal stimulus money. i thought it was a post is to relate the economy, not to relate the government. stuart: that is appalling. local cops do it in the of public safety. you can justify just what anything in the name of public
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safety if you don't care about the constitution. stuart: i am speechless. i'm speechless that we agree. thank you very much, indeed. the dow has turned negative. holding steady above 16,000. last week we brought you inside and e-cigarette vaporium. the people who run this vaporium offer 80 flavors of cigarettes in five levels of nicotine strength. some of them are nicotine free. a lot of them have nicotine, so if you want it, you buy it, you get it. we apologize for any confusion. coming up after the break according to one liberal tv host using the term obamacare is racist. we will play the tape for you
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stuart: msnbc host went on a rant about the racial overtones the name obamacare carries. listen to what she said. >> i want to talk today about a controversial word. a word that has been with us for years, and like it or not it is printed in the pages of american history. a word originally intended as a derogatory term meant to shame
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and divide and demean, the word was conceived of the group of wealthy white men who knew their way to put themselves above and apart from a black man to render him inferior and o unequal and diminish his accomplishments. president obama has been labeled with this word by his opponents, you all know the word i am talking about, obamacare. that is right, i set it i'm not ashamed to neither is president obama. stuart: well, charles. charles: if you didn't tell me that was "saturday night live," i am thinking the n-word, there are a few words out there i'm thinking of. the president himself that he was proud of obamacare. he said he liked the moniker at one point. that had lit up. this dictation is it would've been the amazing thing in the world. this is a problem, there is racism in the country, but this kind of stuff hurts legitimate arguments, this is the most ridiculous thing i have heard in
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a long time. i honestly did think it was a skit. first time i saw it, but just watching it thinking it has to be "saturday night live." stuart: i thought here comes something nasty, but obamacare? charles: for some reason he cannot be ridiculed, he cannot be the object of satire. when i saw pictures of george bush as a chimpanzee drawn all the time in newspapers and he was dumb and stupid, you cannot have double standards. stuart: your take on the morality of money, father jonathan and jon stewart after this. hi honey, did you get e toaster cozy?
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stuart: earlier today charles and i spoke with father jonathan morris about whether or not employers have a moral obligation to pay their
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employees more than what the market dictates. here's what you you had to say. pay for what your skill level is, flipping burgers deserves minimum-wage it is not a clear job. phil says employers should pay their employees what they are budgeted to pay them cut his idea that businesses are in him vent fountain of cash for which employees and the government may drink is pure fantasy. michael says a person should be paid to plan his job skills and what he can bring to the company. he deserves to be paid by his work ethic and how he conducts himself with his ability in dealing with others. i agree with all the above, any disagreement? charles: & minimum-wage deserves it to the themselves. you can take it all on course, people can change their lives coming ideas on how the government owes it to you or private enterprises not. stuart: microsoft 38, 78, up
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about $0.40 on the day. why couldn't you in the last four years ever mention microsoft positive? you are killing my retirement plan. charles: 45 and you are out. stuart: if he comes on board, that goes to 40 and above, but if he doesn't and they get somebody else. , is here and he is yours. connell: forget about a winter wonderland. snow and ice wreaking havoc on flights, winte football games. accounts and everything else. a storm brewing on capitol hill with the house and senate set to break the holidays at the end of the week now do-or-die time for a budget deal. here we go again. the fed's new year resolution,
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time to taper. why over safety% of economist believe the fed will scale back the bond buying in the first quarter of 2014. you can't just like some status on facebook. while the social network can be adding a sympathize button. that and more with dagen mcdowell. dagen: like if a dog dies, i disparage my dog and there is a like. connell: post like that often get a lot of likes. dagen: top of the hour, we do have gains, nicolew york stock h more. nicole: good morning, everybody. another day of gains. the dow, nasdaq and s&p all posting gains one quarter of 1%.